home · filing · 0001193125-22-302285
8-K filed December 12, 2022, 6:59 PM ET
ticker LII
CIK 0001069202
other material
confidence high
sentiment positive
materiality 0.55
Lennox reduces board to 9, adopts CIC plan cutting severance for non-CEO execs, eliminating gross-ups
LENNOX INTERNATIONAL INC
Board size reduced from 10 to 9 members effective Dec 9, 2022 following Max Mitchell's resignation.
New CIC Severance Plan reduces non-CEO executive severance from 3x to 2x base salary and target bonus.
Equity vesting changed from single trigger to double trigger, requiring Qualifying Termination.
Eliminates cash in lieu of perquisites, additional SRP/PRP benefits, and Section 280G excise tax gross-ups.
Requires release of claims; health care continuation tied to severance duration.
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Filed December 12, 2022, 6:59 PM ET
As previously announced, Max H. Mitchell resigned from the Board of Directors
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Max H. Mitchell resigned as Director at LENNOX INTERNATIONAL INC.
Action resigned
Role Director
Exact text from the filing
As previously announced, Max H. Mitchell resigned from the Board of Directors
View on SEC.gov
Source: SEC EDGAR
accession 0001193125-22-302285
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